Exports of chemicals from the U.S. rose 3.2% in June to $16.7 billion, while imports were down 2.4% to $16.4 billion, according to data from the latest Weekly Chemistry and Economic Report from the American Chemistry Council (Washington, D.C.; www.americanchemistry.com).
Excluding pharmaceuticals, chemical exports were up 0.8% to $12.0 billion, and imports were down 3.8% to $8.5 billion. “The trade balance moved from deficit to surplus in June,” ACC said, adding, “Excluding pharmaceuticals, the [U.S.] chemical industry continues to post a large trade surplus.”
Looking at the week’s economic reports about the wider economy, ACC said most were positive, signaling a good start to the third quarter.